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REGISTERED NUMBER: 03312910 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

William Whiteley & Sons
(Sheffield) Limited

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


William Whiteley & Sons
(Sheffield) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: J L Ward
Mrs S E Ward





REGISTERED OFFICE: Unit 1 Lakeside
Rother Valley Way
Holbrook Industrial Estate
Sheffield
South Yorkshire
S20 3RW





REGISTERED NUMBER: 03312910 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 255,534 313,599

CURRENT ASSETS
Stocks 758,019 642,412
Debtors 5 170,499 139,056
Cash at bank and in hand 3,296 181
931,814 781,649
CREDITORS
Amounts falling due within one year 6 379,712 316,537
NET CURRENT ASSETS 552,102 465,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

807,636

778,711

CREDITORS
Amounts falling due after more than one
year

7

(112,769

)

(160,793

)

PROVISIONS FOR LIABILITIES (39,553 ) (40,407 )
NET ASSETS 655,314 577,511

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 655,213 577,410
655,314 577,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2023 and were signed on its behalf by:




J L Ward - Director



Mrs S E Ward - Director


William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

William Whiteley & Sons (Sheffield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 10% on reducing balance, 33% on cost, 20% on cost and straight line over 6 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 764,512
Additions 10,631
Disposals (17,821 )
At 30 June 2023 757,322
DEPRECIATION
At 1 July 2022 450,913
Charge for year 62,756
Eliminated on disposal (11,881 )
At 30 June 2023 501,788
NET BOOK VALUE
At 30 June 2023 255,534
At 30 June 2022 313,599

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 110,793
Disposals (17,821 )
Transfer to ownership (14,150 )
At 30 June 2023 78,822
DEPRECIATION
At 1 July 2022 18,718
Charge for year 8,985
Eliminated on disposal (11,881 )
Transfer to ownership (9,433 )
At 30 June 2023 6,389
NET BOOK VALUE
At 30 June 2023 72,433
At 30 June 2022 92,075

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 163,999 122,685
Other debtors 6,500 16,371
170,499 139,056

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 123,965 84,350
Hire purchase contracts (see note 8) 8,368 19,458
Trade creditors 75,235 127,568
Taxation and social security 94,982 46,908
Other creditors 77,162 38,253
379,712 316,537

William Whiteley & Sons
(Sheffield) Limited (Registered number: 03312910)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 55,000 85,000
Hire purchase contracts (see note 8) 8,458 26,482
Other creditors 49,311 49,311
112,769 160,793

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.6.23 30.6.22
£    £   
Gross obligations repayable:
Within one year 10,484 22,438
Between one and five years 9,621 29,603
20,105 52,041

Finance charges repayable:
Within one year 2,116 2,980
Between one and five years 1,163 3,121
3,279 6,101

Net obligations repayable:
Within one year 8,368 19,458
Between one and five years 8,458 26,482
16,826 45,940

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank overdrafts 93,965 54,350
Bank loans 85,000 115,000
Hire purchase contracts 16,826 45,940
Directors' loan account 107,093 41,065
302,884 256,355

The bank overdrafts and loans are secured by a fixed and floating charge on all the assets of the company.

The directors' loan account is secured by a fixed and floating charge on all the assets of the company.